In most countries, most people prefer to rent their homes rather than buying them. What are the advantages and disadvantages of renting a home?

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It is a common trend seen across the nations that the majority of its population is opting to live in a rented accommodation rather than purchasing a new
house
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to live in. There are advantages and disadvantages to
this
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way of living and these will be explained with relevant supporting ideas in the essay. On the
one
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hand, there are multiple advantages of staying on a rented basis.
One
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primary reason is that you can choose to move your residence relatively quickly and easily.
For instance
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, if you switch your job to a new
city
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city, then
then
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you can relocate to a new
house
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that is
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closer to your workplace in quick time and without much hassles. Another important advantage is that you need not borrow a loan from the bank and end up giving a significant amount of hard-earned money in the form of an interest to the bank.
On the other hand
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, there are a few problems with
this
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arrangement as well.
One
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critical problem is that tenant has no control over the furnishing of the
house
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they reside in. To cite an example, it is often seen that in a fully furnished rented apartment,
one
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cannot remove any furniture or move it elsewhere based on their wish.
In other words
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, landlord's permission is required to be obtained even for a slight modification in the flat. Another drawback is that
one
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does not have an asset to his name. Selling of a
house
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has been an age-old tradition when a huge sum of money is required
immediately but
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immediately, but
not owning a
house
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renders
one
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from
this
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alternative.
Thus
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, people with no property may face an up-hill task to arrange for money in times of emergency. In conclusion, it is evident that living in a rented home has few benefits, but it
also
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has some serious drawbacks that need to be considered.
Therefore
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,
one
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has to carefully analyse both these aspects and choose their way of living.
Submitted by sportardent89 on

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Topic Vocabulary:
  • financial commitment
  • down payment
  • initial costs
  • allocate resources
  • maintenance costs
  • mobility
  • relocate
  • market fluctuations
  • property value
  • building equity
  • appreciate in value
  • asset
  • personalization
  • restrictions
  • rental increases
  • lease renewal
  • financial instability
  • housing budgets
  • long-term security
  • landlord
  • lease agreement
  • equity
  • substantial
  • property ownership
  • property market
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